Apple has updated Compressor, the MPEG encoding component of Final Cut Pro.

The update improves application stability and Preview window performance. If updating from a version prior to 1.2, this update also provides: support for MPEG-1 output files; support for industry-standard letterbox aspect ratio; support for saving batches; Preview window improvements; improved high definition to standard definition transcoding; Timecode included in QuickTime output files; and optimised export using Compressor from the Final Cut Pro HD timeline.